South African business has had a torrid 2022, with intense loadshedding, a freight-logistics strike and serious flooding all harming production and exports. Sadly, these electricity, transport and weather-related risks are not likely to abate soon, and the environment will be worsened by water throttling. This hostile business and investment setting will be further rocked by what now looks to be the inevitable ‘greylisting’ of the country by the Financial Action Task Force, owing to South Africa’s safeguards against money laundering and the financing of terrorism being insufficient.